(13 OCTOBER 2017)DAILY MARKET BRIEF 3:MXN to weaken further
The Ottawa round of NAFTA negotiation have turned nasty. The first causality has been the driving ethos of globalizations and cooperation, replaced with strong protectionist bias. In this negative environment, missteps were bound to occur. MXN was rocked (despite of wide spread EM strength) as news that Mexico’s Finance Minister Meade was developing trade alternatives and tariff measures in case the NAFTA negotiations disintegrated. In additions the US assistance of inclusion of a “sunset clause” that would allow for the agreement renegotiation every five years. Rumors have plagued discussions that Trump was having side conversations with Canadians Trudeau on potential bilateral agreements.
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